Democratic Sentinel, Volume 2, Number 13, Rensselaer, Jasper County, 10 May 1878 — VALUABLE FIGURES. [ARTICLE]

VALUABLE FIGURES.

Something Which the People Should Cut Out and Keep. [From the Albany Workingmen’s Advocate.] NAIL THE LIE. The hackneyed old song, “There is just as much money in the country as ever there was,” has been answered by all currency reformers so often that it looks almost like carrying water into Lake Erie to go over the ground again. But to close up the mouths of the base and ignorant we publish the official record as compiled by the Northwestern Miller, of La Crosse, Wis., trusting that those who doubt the figures will take the trouble to verify their correctness from the official reports: AMOUNT OF CIHCULATINO MEDIUM, SEPT. 1, 1865. [Compiled from Official Records.] United States notes $ 433,160,569 Fractional currency. 26,344,742 National-bank notes 185,000,000 Compound-interest legal-tender notes. 217,024,160 Temporary loan certificates (ten days’ demand) 107,148,713 Certificates of indebtedness 85,093,000 Treasury 5 per cent, legal tenders 32,536,991 Treasury notes, past due, legal tenders and not presented 1.503 020 State-bank notes 78^867,575 Three-year treasury notes 830,000,000 Total Sept. 1, 1865. $1,996,678,770 AMOUNT OF CIRCULATING MEDIUM DEC. 1, 1873. [Compiled from Official Records.] United States notes $ 367,001,685 Fractional currency 48,009,000 Certificates of indebtedness, bearing interest 678,000 National-bank currency 350,000,000 Total Dec. 1, 1873 $ 765,679,685 Contraction from Sept. 1, 1865, to Dec. 1, 1873 $1,230,999,085 AMOUNT OP CIRCULATING MEDIUM SEPT. 1, 1877. [Compiled from public debt statement and last statement of Comptroller of the Currency.] Greenbacks outstanding $ 358,040,997 National-bank notes 315,620,217 Fractional currency, including silver.. 39,172,114 Total Sept. 1, 1877 $ 712,833,258 Contraction from Sept. 1,1865, to Sept. 1, 1877 (twelve years) $1 283,845,412 And here is the other side of the pict ure, which will show for whose benefit this systematic robbery ®f the people is being made : The bonded indebtedness of the United States on tfle 31st of October, 1865, was: Six per cent, bonds $ 945,562,512 Five per cent, bonds 218,207,100

Total bonds $1,163,769,612 On which the yearly interest, the greater part of which was payable in legal-tender notes and not in gold, was as follows: On 6 per cent, bonds $56,733,760.72 On 6 per cent, bonds 1 10,910,355.00 Annual interest on bends $67,644,105.72 According to the public-debt statement for Aug. 31, 1877, the total bonded indebtedness of the country was as follows : Six per cent, bonds $ 814,341,050.00 Five per cent, bonds 703,266,650.00 Four and a half per cent, bonds.... 185,000,000.00 Total $1,702,607,700.00 On which the yearly interest is : On 6 per cent, bonds $ 48,860,463.00 On 5 per cent, bonds ' 36,163,332.50 On iy: per cent, bonds 9,325,000.00 Total Interest $ 93,348,795.50 RECAPITULATION. Bonded indebtedness, May 31, 1877.51,692,964,650.00 Bonded indebtedness, Oct. 31, 1865. 1,162,769,612.00 Increase in bonds since Oct. 31,1865.$ 529,196,038.00 Annual interest, May 31, 1877 $ 93,120,212.50 Annual interest, Oct. 31, 1865 67,644,105.72 Increased annual interest $ 25,476,106.78 Total increase on bonded indebtedness from Oct. 31, 1865, to Aug. 3i, 1877 $ 538,838,088.00 Total increase of annual interest from Oct. 31, 1865, to Aug. 31, 1877.. $ 25,704,688.78 How any intelligent man, after reading the above, can fail in seeing and denouncing the infamous policy of contraction, is what we cannot comprehend.